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Piere Assessment: AI-Powered Budgeting

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Piere is a brand new budgeting app that’s making an attempt to fill the hole left by Mint.

When Mint shut down, thousands and thousands of lively customers wanted a new budgeting app.

Whereas many free apps have promised to ship premium budgeting providers, Piere often is the first free app that not solely replaces Mint’s performance, it surpasses it. 

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Right here’s what that you must find out about Piere, from key options to plans and pricing. 

piere logo
  • Advert-free budgeting, spending, and net-worth monitoring app.
  • AI-driven funds suggestions.
  • First-of-its-kind integration with Venmo.
  • Paid plan arriving in 2024. 

AI-Powered budgeting, account syncing, web value monitoring

*Paid plan coming in 2024. 

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What Is Piere?

Pierre is a budgeting and monetary administration app that makes use of AI to make creating and monitoring your funds simpler. It has each free and paid plans, however not like many different budgeting apps, the free tier gives loads of performance, together with a number of account connections, and transaction and funds administration.

The app was began by Yuval Shuminer in 2022, and when Mint introduced it was closing, it noticed its recognition skyrocket.

This is a take a look at the app’s key options. 

What Does It Supply?

Though Piere has an formidable product roadmap, its main options are an AI-driven funds, web value tracker, and spending tracker. Right here’s what that you must find out about these options.

Two-Click on Funds

Making a funds might be difficult, however Piere guarantees to make it easy by analyzing your monetary historical past and recommending a funds based mostly in your historic spending. Inside two clicks, it offers a “tuned” month-to-month funds which you need to use to trace your earnings and bills.

The 2-click funds may go for some individuals because it makes use of 90 days of historical past to suggest your plan. However Piere’s funds has a significant drawback. It doesn’t require your funds to be balanced. My 90-day transaction window coincided with paying for summer time little one care and a significant dwelling improve.

We saved upfront for these bills. Nonetheless, the preliminary funds really useful by Piere confirmed a $4100 funds deficit each month. I used to be additionally shocked to see that Piere’s funds neglected my mortgage cost.

Nonetheless, manually adjusting the funds is easy, and monitoring your bills relative to your funds is really painless.

Automated Categorization of Transactions

Piere mechanically categorizes transactions based mostly on the first vendor. That is essential as a result of the funds it recommends is predicated in your transaction historical past. Whereas I wasn’t impressed with the preliminary categorization of transactions (transfers have been characterised as automotive funds, for instance), I used to be impressed by how properly Piere “realized” the brand new guidelines.

As quickly as I recognized financial savings transfers, charitable giving, and gymnasium memberships, Pierre utilized the rule to all associated transactions.

Piere Budgeting Categorization

Categorizing Venmo Transactions

As a heavy Venmo person, I admire that Piere “appears inside” your Venmo account, and treats these transactions as significant transactions. It even treats reimbursements as reductions in spending as an alternative of as “different” earnings. I primarily use Venmo to pay for a handful of providers, so I couldn’t check the reimbursement characteristic. Nonetheless, loads of Piere’s on-line critiques give accolades to this characteristic.

Shared Transaction, Good Reimbursement, Pooling Cash and Extra

Piere is doubling down on “shared” funds that don’t embody a major different. Pierre is positioning itself as a substitute for Venmo by permitting mates to share transactions and reconcile transactions inside the app. It’s additionally created a monetary Pool that’s good for a visit or an workplace PowerBall Pool.

Web Price Monitoring

Piere isn’t merely a spending tracker. It appears at your entire monetary image. Pierre permits you to hook up with conventional brokerages like Constancy, Charles Schwab, Betterment, Wealthfront, and Vanguard, and even some crypto exchanges reminiscent of Coinbase. These connections are used to trace your web value over time. It’s value noting that historic web value monitoring can be a premium characteristic, and customers should improve to Piere Plus to make use of this characteristic.

Are There Any Charges?

Piere presently gives a free plan, known as Piere Purple. There’s a Premium model, known as Piere Plus+, in addition to a desktop model of the app, within the works for 2024.

When Piere Plus+ is out there, it is going to embody AI-driven insights, superior transaction guidelines (to depend reimbursements in opposition to spending), historic web value, and different options that haven’t but been launched. Piere Plus will price $9.99 month-to-month or $79.99 billed yearly. 

How Does Piere Evaluate?

Total, Piere gives a strong, easy-to-use, easy-to-customize, and clever monetary administration platform. Piere’s free budgeting device is best than most premium budgeting instruments (though YNAB or Tiller could also be higher for these with complicated budgeting wants).

Piere’s web value monitoring device gives insights that rival the insights from Empower. Piere’s free possibility might actually be the perfect different to Mint.

How Do I Open A Piere Account?

To get the app, go to the App Retailer and obtain Piere or you need to use Piere from the Google Play Retailer. You’ll want an e mail deal with and password to get began. When you’ve accomplished a profile, you possibly can join your accounts to Piere.

Piere makes use of a third-party service that solely reads info out of your accounts. As soon as that’s completed, you can begin your funds and web value, and categorize transactions. Proper now, Piere doesn’t require customers to enter a bank card to begin an account. This will likely change when Piere begins charging for Piere Plus.

Is It Protected And Safe?

Piere makes use of a third-party service to encrypt info and preserve it safe. The app additionally permits customers to arrange multi-factor authentication to make sure that info is stored secure and safe. Piere makes a giant deal about being SOC 2 compliant. This merely signifies that it follows finest practices for guaranteeing that banks and different monetary establishments can hook up with the app. Total, Piere has wonderful safeguards in place to attenuate the dangers related to identification theft.

How Do I Contact Piere?

Piere’s headquarters is positioned at 910 seventeenth St SE, Fort Lauderdale, Florida 33316. You may get in contact with the crew by emailing contact@piere.com. If you happen to obtain Piere, you possibly can contact the event crew by hitting the Gear Icon within the higher proper nook after which utilizing the “Contact The Staff” part. The location doesn’t presently present any telephone numbers, and it doesn’t presently have a chat possibility for customers.

Is It Price It?

Proper now, Piere is a wonderful app, and its product roadmap is promising. Personally, I’m desirous to see how the AI-driven insights carry out when they’re launched. The idea of “roll-over” budgeting can be very thrilling. As a result of Piere is presently free, it’s properly value downloading. The budgeting characteristic is great, and I’m impressed by the spending tracker.

When customers must pay for Piere’s premium options, the free model will nonetheless be value utilizing for most individuals. It’s an easy-to-use app that permits you to funds, spend, and observe your funds simply.

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Piere Options

AI-powered budgeting and monetary administration app

  • Two-Faucet Funds Creation
  • Transaction Guidelines 
  • Historic Web Price
  • Customized Classes 
  • Auto Reconciliations (with Venmo)
  • Computerized Financial institution Syncing 
  • Piere Purple: Free 
  • Piere Plus+: $9.99 month-to-month or $79.99 paid yearly (coming 2024) 

Net/Desktop Account Entry

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